On November 18, Glonghui announced that zhejiang tiancheng controls (603085.SH) has decided, based on the company's business layout and medium-to-long term global strategy development plan, to further accelerate project investment and construction in order to meet customer needs, achieve localized production of products and components, and increase market share. The company convened the 14th meeting of the 5th board of directors on November 18, 2024, to review and approve the "Proposal for the Company’s External Investment," agreeing to invest no more than 400 million yuan (or equivalent foreign currency) in the construction of a production base in Thailand from its own funds or funds raised, including but not limited to purchasing land, constructing fixed assets, leasing factory buildings, and other related matters. The actual investment amount will be based on the approved amount by the Chinese and local regulatory authorities.